UK flooring distributor Headlam plans to cancel its London listing after entering administration and selling parts of its business and assets to Likewise Group for £14.9 million. The company said proceeds are unlikely to leave any return for shareholders.

Headlam’s administrators announced on 7 October that they intend to seek cancellation of its listing after a company voluntary arrangement became unviable. A £14.9 million assetAssetDefinition An asset is something that has economic value and can be owned or controlled by a person, company, or organisation. Assets can take many forms. A house, a piece...Read More sale to Likewise, plus VAT, completed on 6 October. They consider a shareholder return unlikely. Headlam entered administration in September; today’s development is the cancellation plan and disposal disclosure. Its shares remain suspended, and cancellation is not yet completed.